Automotive Powertrain Sensors Market to be Worth $32.2 Billion by 2030

Meticulous Research®-a leading global market research company, published a research report titled, 'Automotive Powertrain Sensors Market by Type (Temperature, Position, Exhaust, Pressure, Speed, Knock), Powertrain Subsystems (Engine Management, Transmission Management, Power Steering), and Vehicle Type (ICE, HV, EV) - Global Forecast to 2030.'

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According to this latest publication from Meticulous Research®, the automotive powertrain sensors market is projected to reach $32.2 billion by 2030, at a CAGR of 7.7% during the forecast period. By Volume, the automotive powertrain sensors market is projected to reach 6,971.4 million units by 2030, at a CAGR of 9.7% during the forecast period. The growth of this market is driven by the increasing requirement for sensors in hybrid powertrains, rising awareness about fuel economy, and increasing demand for mid-sized cars from developing nations. Furthermore, the rising awareness about the carbon footprint of vehicles and stringent emission regulations are expected to create market growth opportunities during the forecast period.

However, the high development cost of automotive sensors and the complexity of sensor integration restrain the growth of this market. Also, the lack of harmonization in system integration is a major challenge for the players in this market. Furthermore, the increasing deployment of compact engines and the growing adoption of shared mobility are key trends in the automotive powertrain sensors market.

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The automotive powertrain sensors market is segmented based on type, powertrain subsystems, and vehicle type. The study also evaluates industry competitors and analyzes the market at the regional/country levels.

Based on type, the global automotive powertrain sensors market is segmented into temperature sensors, position sensors, exhaust sensors, pressure sensors, fluid concentration sensors, knock sensors, speed sensors, torque sensors, current sensors, voltage sensors, and other sensors. In 2023, the exhaust sensors segment is expected to account for the largest share of the automotive powertrain sensors market. The large market share of this segment is mainly attributed to increasingly stringent government regulations mandating higher fuel efficiency, fewer exhaust emissions, and the use of exhaust gas regeneration technology. These sensors are critical for closely monitoring real-traffic emissions and the impact of after-treatment systems.

Based on powertrain subsystems, the global automotive powertrain sensors market is segmented into engine management sensors, power steering sensors, and transmission management sensors. In 2023, the engine management sensors segment is expected to account for the largest share of the automotive powertrain sensors market. This segment's large market share is attributed to stringent emission regulations to reduce gas emissions, the rising requirement for fuel economy, improved combustion cycle, and improved engine control for a better driving experience.

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Based on vehicle type, the global automotive powertrain sensors market is segmented into internal combustion engine vehicles, hybrid vehicles, electric vehicles, and other vehicles. In 2023, the internal combustion engine vehicles segment is expected to account for the largest share of the automotive powertrain sensors market. This segment's large market share is attributed to the rising requirement for fuel economy in ICE vehicles, stringent emission norms to reduce greenhouse gas emissions, and dominance of ICE powertrains in developing economies such as India, Southeast Asia, Latin America, and a major part of the Middle East & Africa.

Based on geography, the global automotive powertrain sensors market is segmented into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the automotive powertrain sensors market, followed by Europe, North America, Latin America, and the Middle East & Africa. The large share of this region is mainly attributed to the high production level of automobiles in the region driven by huge demand from China, India, and Japan, the upgradation of powertrain systems due to rising consumer awareness regarding the environmental effects of automotive emissions, and increasing infrastructural developments in the region. Moreover, due to the presence of some of the fastest-growing economies of the world, such as India, China, Indonesia, and Thailand, the purchasing power of consumers in this region is high, propelling the demand for automobiles from this region. Also, China is expected to lead global automotive production during the forecast period, which is expected to drive a large share of this region during the forecast period.

Key Players:

The key players operating in the global automotive powertrain sensors market are Texas Instruments (The U.S.), Denso Corporation (Japan), Robert Bosch GmbH (Germany), Mitsubishi Electric Corporation (Japan), Infineon Technologies (Germany), NXP Semiconductor (Netherlands), HELLA GmbH & Co. (Germany), Valeo (France), CTS Corporation (The U.S.), Renesas Electronics Corporation (Japan), ZF Friedrichshafen AG (Germany), Delphi Technologies (The U.K.), PCB Piezotronics Inc. (The U.S.)., STMicroelectronics N.V. (Switzerland), and TE Connectivity (Switzerland).

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/automotive-powertrain-sensors-market-5155/

Key Questions Answered in the Report:

Which are the high-growth market segments based on type, powertrain subsystems, vehicle type, and geography?
What was the historical market size for the automotive powertrain sensors market?
What are the market forecasts and estimates for 2023-2030?
What are the major drivers, restraints, opportunities, challenges, and trends in the automotive powertrain sensors market?
Who are the major players, and what shares do they hold in the automotive powertrain sensors market?
What is the competitive landscape in the automotive powertrain sensors market?
What are the recent developments in the automotive powertrain sensors market?
What strategies are adopted by the major players in the automotive powertrain sensors market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the automotive powertrain sensors market, and how do they compete with the other players?

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This release was published on openPR.